4 months ago
KULR (KULR), a shaper of precocious energy-management systems, said it spent $8 cardinal connected bitcoin (BTC) to instrumentality its full holdings to 510 tokens.
At a weighted mean terms of $101,695, that equates to astir 79 bitcoin and means the company's full concern is present $50 million.
The acquisition follows the Houston, Texas-based company's Dec. 4 announcement that it volition put immoderate of its surplus currency successful the largest cryptocurrency arsenic the adoption of bitcoin treasury for public companies gathers steam.
The institution has achieved a bitcoin output of 127% truthful acold this year, it said successful a connection shared with CoinDesk. The output is the percent alteration successful the ratio of its bitcoin holdings to its full-diluted shares outstanding implicit a fixed period.
Since the concern strategy was announced, the company's NYSE-traded shares person soared 90%, portion bitcoin has added 7%. They closed Friday astatine $2.28 and were up 2.2% successful pre-market trading Tuesday.
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